If you’re someone who thrives on creativity and culture, living near the Art Institute of Chicago in the Loop might be the perfect fit. Whether you’re an art student, a museum lover, or just someone who appreciates being close to the heart of downtown Chicago, the area has plenty to offer. From the inspiring surroundings to the walkable streets and easy access to public transit, it’s a part of Chicago that effortlessly blends entertainment, history, and convenience.
Apartment Hunting Near the Art Institute
What’s the average cost of living in downtown Chicago near the Art Institute?
Renting near the Art Institute puts you right in the middle of downtown, so you can expect prices to reflect the prime location. One-bedroom apartments typically start around $2,400 per month, and two-bedrooms can range anywhere from $2,900 to $4,800 depending on the building and the amenities. The Art Institute is located on the border of the Loop and South Loop neighborhoods, which still tend to be slightly more affordable than some other downtown neighborhoods like River North and the West Loop.
What is public transportation like near the Art Institute in Chicago?
One of the best things about living near the Art Institute is how easy it is to get around. The museum is just a block or two from several CTA lines—including the Red, Blue, and Brown lines—which makes commuting around the city a breeze. Whether you’re heading to campus, work, O’Hare International Airport, or just exploring a new neighborhood, you can do it easily without needing a car.
What are the top tips for moving to Chicago?
In a world class city like Chicago demand is high and the rental market moves quickly. It’s good to have a clear idea of your priorities before you start your search (i.e. what are your “must haves” vs. “nice to haves”, what you’re willing to compromise on vs. what’s a dealbreaker, etc.).
Consider whether you have any flexibility in your move date. Pricing at Chicago luxury apartment buildings can change depending on your lease start date. For example, if a unit is vacant starting on the 5th of the month, the monthly rate could increase if you wait until the 15th to start your lease. (In that example, the extra 10 days of rent in that first month could offset the annual cost of paying higher rent each month for holding out the lease start date.) On the other hand, your monthly rent could be lower if you start your lease on the day a unit becomes vacant. Pricing changes depending on lease start date, not physical move date, so even if you can’t physically move until the 15th, your monthly rate could be lower by starting your lease a few days early.
Many people are pleasantly surprised when moving to Chicago that most high rise rental buildings don’t require a security deposit. Instead, they often to a $300-700 move in fee, which you can get waived or credited back to you under many circumstances.
Because of all these intricacies and factors to consider when moving to Chicago, it’s advisable to work with a rental broker who can help you navigate the market and how to find the best deals.
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